Every year, millions of Indians construct virtual sports teams, betting that the players they select would perform admirably in real-world competitions. Users profit if the predictions are correct.
FanClash, a two-year-old Indian firm, is seeking to integrate esports to the fantasy sports world, including sleeper hits like PUBG Mobile, COD, and DOTA 2. Investors believe this approach and the FanClash team will deliver, and announced on Friday that they have invested $40M in the firm.
FanClash‘s Series B investment round was led by Alpha Wave Global, formerly Falcon Edge Capital. The round saw participation by Sequoia Capital India, Info Edge, and Polygon. FanClash had previously raised $10.5M, with a $10M Series A round.
Fund usage
The new money will be utilised to develop a global fantasy, data, and fan management platform for esports.
FanClash, which was founded in the middle of 2020 by Richa Singh and Rishabh Bhansali and just expanded to the Philippines, aspires to be a global leader in esports. FanClash began as a fantasy game software for all core esports fans and has now grown to become Asia’s largest esports fantasy platform.
According to the startup, there are 500M core esports watchers worldwide, with a 20% CAGR (compound annual growth rate). There are 100M users in India, and that number is predicted to triple by 2025.
How does it work?
Users of FanClash can establish fantasy teams for any competition and win incentives based on the teams’ real-life success. Users can play fantasy on all major global tournaments, including FreeFire, PUBG Mobile, COD Mobile, COD PC, Valorant, CS:GO, League of Legends, and DOTA 2, among others.
“We aspire to be a household name in the global gaming community. This is possible in esports, unlike traditional sports, because the underlying game titles have a global audience,” said Richa Singh, Co-founder of FanClash.
“The online gaming business is also monetising strongly, with revenues expected to exceed $5 billion by 2025,” stated Rajan Anandan, MD, Sequoia India. “By seizing this opportunity, FanClash is creating an exciting new location for esports fans, complete with a fantastic product that its consumers like,” he continued.
“The online gaming business is also monetising strongly, with revenues expected to exceed $5 billion by 2025,” stated Rajan Anandan, MD, Sequoia India.
“By seizing this opportunity, FanClash is creating an exciting new location for esports fans, complete with a fantastic product that its consumers like,” he continued.
